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Provided by: Ripple Training Finance Budgeting for HR PractitionersBudget Management |
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Training
Provided by Ripple Training
Time and again research has shown that to add value to organisations and be a true Business Partner the modern HR Practitioner needs credibility. This credibility will only be awarded if the practitioner is able to function, not only as an HR Practitioner, but as a well rounded business person with an HR specialisation.
The HR Practitioner of the current millennium needs to have the skills of the "Credible Activist" - the HR professional who is both credible (respected, admired, listened to) and active (offers a point of view, takes up a position and challenges accepted assumptions).
Also required, as Ulrich puts it as "table stakes", are the skills of the "Business Ally" - they know how the business makes money, and have an understanding of the various parts of the business: Finance, Marketing, Research & Development and Engineering (to name but a few) and in so doing assist the organisation to succeed.
This workshop is designed to provide modern HR Practitioners with the basic financial skills which will enable them to understand and contribute to discussions and analyses of organisational financial issues.
Related Jobs or Careers: HR Directors, HR Managers, HR Officers, HR Specialists, Operations & Line Managers, Business Managers
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Finance Budgeting for HR Practitioners
Day One
The Context of Finance, HR and the Organisation
Why financial skills are critical for HR practitioners
The purpose and need for accounting
Basic accounting concepts
Accounting is an art as well as a science
Estimates and assumptions
Discretion and valuations
Why due diligence is your problem
Costs, Costing, Profits and Margins
Percentages and using them
Gross profit and mark-up
Discounts and Margins
Direct and indirect costs
Variable and fixed costs
Marginal costing and full costing
Read and Understand the Income Statement
The purpose of the income statement
How to read an income statement
Comparative data - apples with apples
Understanding sales and revenue
Accounting for costs and expenses
Profit in all its forms
Reading and Understand Balance Sheets
The purpose and value of a balance sheet
How to read a balance sheet
Explaining assets
Tangible and intangible assets
The value of intangible assets
Explaining liabilities
Explaining equity
Why balance sheets must balance - it's all in the formula
The link between the income statement and the balance sheet
Day Two
Cash and Cash Flow
"Sales are vanity, profit is sanity, cash in the bank is reality
Profit and cash are not the same thing
Principles of cash flow
The connections between cash, profit, income statements and balance sheets
Understanding the formal cash flow statement and how to use it
Financial Ratios What They Mean and How to Use Them
What ratios are and why we use them
Five key profitability ratios and how to use them
Three key leveraging ratios and how to use them
Two key liquidity ratios and how to use them
Eight key efficiency ratios and how to use them
Fourteen key Human Resource ratios and how to use them
Return on Investment
Understand the underlying concepts and principles of ROI
The value of money - future and present value
Required rate of return
Cost of capital
Why we use ROI and its importance to HR
Calculating ROI - three different methods
ROI in HR
Forecasting and Budgeting
The purpose of budgets
Different approaches to budgeting
Cost centres and profit centres
Budget variances - act sooner rather than later
Remedial actions
The Context of Finance, HR and the Organisation
Why financial skills are critical for HR practitioners
The purpose and need for accounting
Basic accounting concepts
Accounting is an art as well as a science
Estimates and assumptions
Discretion and valuations
Why due diligence is your problem
Costs, Costing, Profits and Margins
Percentages and using them
Gross profit and mark-up
Discounts and Margins
Direct and indirect costs
Variable and fixed costs
Marginal costing and full costing
Read and Understand the Income Statement
The purpose of the income statement
How to read an income statement
Comparative data - apples with apples
Understanding sales and revenue
Accounting for costs and expenses
Profit in all its forms
Reading and Understand Balance Sheets
The purpose and value of a balance sheet
How to read a balance sheet
Explaining assets
Tangible and intangible assets
The value of intangible assets
Explaining liabilities
Explaining equity
Why balance sheets must balance - it's all in the formula
The link between the income statement and the balance sheet
Day Two
Cash and Cash Flow
"Sales are vanity, profit is sanity, cash in the bank is reality
Profit and cash are not the same thing
Principles of cash flow
The connections between cash, profit, income statements and balance sheets
Understanding the formal cash flow statement and how to use it
Financial Ratios What They Mean and How to Use Them
What ratios are and why we use them
Five key profitability ratios and how to use them
Three key leveraging ratios and how to use them
Two key liquidity ratios and how to use them
Eight key efficiency ratios and how to use them
Fourteen key Human Resource ratios and how to use them
Return on Investment
Understand the underlying concepts and principles of ROI
The value of money - future and present value
Required rate of return
Cost of capital
Why we use ROI and its importance to HR
Calculating ROI - three different methods
ROI in HR
Forecasting and Budgeting
The purpose of budgets
Different approaches to budgeting
Cost centres and profit centres
Budget variances - act sooner rather than later
Remedial actions
About The Training Provider: Ripple Training
Ripple Training - The major growth economies across the globe are all within the emerging market environment. Favourable exchange rates, market size, lower manufacturing and labour costs are all contributing factors for these markets returning the current growth rates. In order for this to continue private and public sector organizations need to ensure that they are geared for continued growth and this can only...
